Wednesday, 24 February 2010

FOR RICHER OR POORER


When going through divorce there are many reasons why the vows made on a wedding day can come back to haunt. Take for instance the case yesterday in the Court of Appeal when it upheld the judgment against Mrs Marano made last year, ordering her to pay £5 million towards her ex-husband’s property losses.

“For richer or poorer,” has a certain resonance, and the case serves as a timely reminder in these economically challenging times, that fortunes can go either way. Whilst assets which accrue during a marriage can be shared on divorce, so too can debts.

2 comments:

Diana Tennis said...

This is certainly true in Florida, along with other states worst hit by the real estate slump. Many clients come in concerned about what marital equity may be in the marital home that was owned pre-marriage by the other party...only when we discuss it the equity has really dropped! You don't want to accidentally set yourself up for sharing debt you don't want. Diana Tennis

Jonathan Kales said...

I practice law in Northern Virginia (USA), with an emphasis in my work on collaborative divorce, divorce mediation, and uncontested divorce.  I, also, am seeing this trend in my practice.